PagerDuty’s (PD) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of PagerDuty (NYSE:PD) in a report published on Wednesday, Marketbeat reports. The firm currently has a $21.00 price objective on the stock.

Several other research analysts also recently weighed in on the company. TD Cowen dropped their price target on PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada raised their target price on shares of PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Scotiabank decreased their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 4th. Craig Hallum cut their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley decreased their target price on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PagerDuty presently has a consensus rating of “Hold” and a consensus target price of $22.09.

PagerDuty Stock Performance

NYSE PD opened at $20.17 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a twelve month low of $16.46 and a twelve month high of $26.70. The business has a 50-day moving average price of $19.39 and a 200-day moving average price of $19.63. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -25.23 and a beta of 1.09.

Insider Transactions at PagerDuty

In related news, CAO Mitra Rezvan sold 2,942 shares of PagerDuty stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total transaction of $53,132.52. Following the completion of the transaction, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at approximately $1,958,588.94. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $20.04, for a total transaction of $375,750.00. Following the transaction, the chief executive officer now owns 907,631 shares in the company, valued at $18,188,925.24. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,396 shares of company stock worth $1,733,561. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently modified their holdings of PD. ARK Investment Management LLC increased its stake in PagerDuty by 12.5% in the second quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after purchasing an additional 1,180,202 shares during the period. Loomis Sayles & Co. L P lifted its holdings in PagerDuty by 33.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock valued at $14,995,000 after buying an additional 202,382 shares in the last quarter. Barclays PLC boosted its position in PagerDuty by 24.2% in the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after buying an additional 175,733 shares during the period. Edgestream Partners L.P. grew its stake in PagerDuty by 297.0% in the 3rd quarter. Edgestream Partners L.P. now owns 219,294 shares of the company’s stock worth $4,068,000 after acquiring an additional 164,061 shares in the last quarter. Finally, RGM Capital LLC increased its position in shares of PagerDuty by 3.3% during the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock worth $103,286,000 after acquiring an additional 143,701 shares during the period. 97.26% of the stock is owned by institutional investors.

PagerDuty Company Profile

PagerDuty, Inc engages in the operation of a digital operations management platform in the United States and internationally. The company’s digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage machine learning to correlate, process, and predict opportunities and issues.